Multiple Choice
If the total expenditure on cars increases when the price of cars rises,the price elasticity of demand for cars is
A) exactly zero.
B) not determinable from the information given.
C) greater than one (demand is elastic) .
D) equal to one (demand is unit elastic) .
E) less than one (demand is inelastic) .
Correct Answer:
Verified
Correct Answer:
Verified
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